Letter to the editor: Congress should end anonymous shell companies

Iowa is cracking down on RV owners who have set up shell companies to avoid paying thousands of dollars in Iowa taxes. It's about time Congress puts an end to anonymous shell companies altogether to thwart a myriad of criminal activity.

Right now, anyone can register a corporation without disclosing its real owner. As a result, anonymous shell companies are the favorite tools for criminals to commit fraud, scam consumers and evade taxes. Without corporate ownership information, law enforcement struggles to track down the perpetrators. If Iowa alone has recovered more than $1 million from tax evasion due to "dummy" out-of-state companies, imagine how much the federal government could recover.

It's high time we shut down anonymous shell companies. Sen. Grassley introduced the bill that will help us move in that direction. We should support incorporation transparency.

- Jaimie Woo, Des Moines

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Letter to the editor: Congress should end anonymous shell companies

Iowa is cracking down on RV owners who have set up shell companies to avoid paying thousands of dollars in Iowa taxes. It's about time Congress puts an end to anonymous shell companies altogether to